Westfield Corporation is a large company based in Australia that is listed on the public exchanges under the ASX code WFD. The company creates as well as operates a number of top retail destinations in the major cities of the world – the majority of which are in the United States. This company puts together shopping centres that are designed to be of the highest quality in terms of connecting retailers, brands and shoppers. In order to create these centers that provide an ideal experience for shoppers and retailers, Westfield integrates a number of innovative digital technology sources along with offering the best fashion, food, leisure and entertainment options available in a given locale.
Recently the company has been able to make a substantial amount of revenue in one year alone and is among the most prosperous companies in its industry, and also in the entire world. It employs approximately 1700 staff members and owns/operates 34 centers throughout the United States and the United Kingdom. There are 16 flagship centers among the 34 that the company owns and operates. As of right now, Westfield Corporation has $29 billion in assets under the current management and a development program worth over $10 billion.
As previously stated Westfield Corporation is among the most financially well off companies in the world. The company has assets of $29 billion which makes it among the most lucrative in terms of ownership and administration of property. This amount combines both cash along with the various properties worldwide, however most of the assets that make up this $29 billion are in the form of shopping and retail centers. Therefore, the company is doing very well as of 2016 due to the amount of property and its current value.
Another part of Westfield Corporation that is making it in very good financial standing for 2016 is the $10.5 billion in its development program. The company is currently in the midst of growing and expanding, while many in the industry are doing the opposite. With expansion, it will be able to make even more retail centers throughout the world and be in position to make even more revenue.
Peter Lowy, co-CEO of Westfield in a panel discussion at UCLA stated its exponential growth has primarily been because its expansion within the U.S. over the last decade. Some of its new locations include the mall at the World Trade Center site in New York City, as well as a 1.8 million square foot mall in Milan, Italy. This development program is another very valuable asset that the company has and will help it reach its goals in the near future. As of 2016 Westfield Corporation is not only managing $29 billion in assets along with in the midst of making over $10 billion in additional retail centers, but also making $16 billion in annual sales too.